Through decentralization, blockchain technology can improve the safety of online activities.
Many online attacks use Attack Vectors to exploit system weaknesses. DDoS, Eclipse, and a 51 Percent Attack are three common types.
A DDoS, Distributed Denial of Service, attack, occurs when hostile hackers overload a network with requests. In blockchain, DDoS target crypto exchanges or mining pools.
They disable a network’s ability to serve users. Eclipse attacks control a single node inside an artificial environment.
An attacker can manipulate communications with surrounding nodes to perform illegal transactions by isolating a node. When an assailant obtains control of 50% or more of a network’s mining hashrate, it’s called a 51 percent attack.
The individual can submit fraudulent transactions, making the blockchain centralized.
51 percent attacks become difficult as a blockchain network increases in the number of honest nodes. Blockchain analytic tools such as CertiK’s Skynet help with online attacks by monitoring on-chain activity.
